People losing jobs left, right and center (home owners insurance, credit)

[JG183]

looking at the thread titles in this forum, there seems to be many people getting new jobs in NJ and relocating here...

[clevedark]

Originally Posted by lets_hope_for_newbruns

Companies that are doing good are laying off too.

I heard that IBM a size of 100,000+ employees must be planning to reduce to 30,000.


Bad , bad times are here.

Is it wise to buy a home given this time or just bring down the value of home by 30 percent.
Hope the seller understands the situation.

I think its wise for people who bought homes 20 years ago , all brand new, to sell it off and move to Florida or NC or Georgia and such places.

In this crazy times.

If I were a musician I would put this to music.... It's poetry.

[Catherinelady]

I forsee I will be doing some car living rather then give up my car payment. I will give up the high NJ rent. I will slowly make my way down south where I will probably make 30 % of what I made here and end up staying in the car because that won't pay the rent either.

Life is good!

[jerseyj]

Originally Posted by clevedark

If I were a musician I would put this to music.... It's poetry.

Ray Charles did that for you!

YouTube - Georgia on my Mind- Ray Charles

[Marc Paolella]

9% unemployment is 91% employment. And since 3% unemployment is full employment, the true unemployment rate is 6%. Which is 94% employment.

But:

Aren't there hidden sweet bearish statistics that can be brought to bear? Like "the unemployment rate doesn't measure X, Y, and Z, which would show that the true unemployment rate is 50%."

I'm sure the bitter angry bears (BABs) can give us something.

-Marc

[lets_hope_for_newbruns]

clevedark, jersey you guys are funny.



Marc - Don't you think its shocking to know that this may be the largest unemployment witnessed in this country since so many decades? Top that with Obama firing CEO's of companies? I wonder who is more fascist the democrats or the republicans by what Obama did.

Wish I had a crystal ball because I am being proven wrong by the recent turn of events. Or must I develop intuit that just knows what is LOL

[NatasNJ]

Originally Posted by Marc Paolella

9% unemployment is 91% employment. And since 3% unemployment is full employment, the true unemployment rate is 6%. Which is 94% employment.

But:

Aren't there hidden sweet bearish statistics that can be brought to bear? Like "the unemployment rate doesn't measure X, Y, and Z, which would show that the true unemployment rate is 50%."

I'm sure the bitter angry bears (BABs) can give us something.

-Marc

You can say 94% of people have jobs and all is well.
But that % is meaningless unless it is compared to %'s over time and what 94% means.

If in the past 94% means a solid working economy I would agree 100% with you that there is nothing wrong or bad with that number. All would be well.

But historically 4-5% is a solid number to suggest a good healthly economy. So we are 2x-3x over that number. So I don't see how you can suggest 94% is good.


Stupid analogy to make my point.
Say a human needs to breath air 99.5% of the time to live.
And at 98% a human will not breath enough air to stay alive.

If I told you hey, that humans are currently breathing 97.5% of air right now. Sure that number sounds FINE but we would all be dead.

So you have to take the % in context and saying 94% employment is FINE is stupid and pointless.

[NatasNJ]

More U.S. consumers falling behind on loans - Personal finance- msnbc.com

Yeah. 94% is just dandy...

[JG183]

Originally Posted by NatasNJ

More U.S. consumers falling behind on loans - Personal finance- msnbc.com

the "more" being a rise of a whole 0.32%

[BobKovacs]

Originally Posted by Catherinelady

I forsee I will be doing some car living rather then give up my car payment. I will give up the high NJ rent. I will slowly make my way down south where I will probably make 30 % of what I made here and end up staying in the car because that won't pay the rent either.

Life is good!

I doubt very highly that your salary would be 30% of your current NJ salary. If you move to any large southern town that has similar industries to what you're in currently, you're likely to be in the 85-90% range of your current salary. The stories of "they don't pay as good down there" are mostly hearsay/myth.